Red Hat Breaks Even
New York, Mar 23, 2001 (123Jump via COMTEX) -- Red Hat Inc. (RHAT), the leading
distributor of the Windows alternative Linux operating system, said on Thursday
that it broke even in its fourth quarter, topping Street estimates and narrowing
its loss from the year-ago period.
The company also said it expects to reach profitability in the first quarter of
fiscal 2002.
For the quarter ended Feb. 28, Red Hat posted an adjusted loss of $600,000, or 0
cents per share, compared with a loss of $5.6 million, or 4 cents per share, in
the year-ago quarter.
Analysts polled by First Call/Thomson Financial had expected Red Hat to lose 1
cent per share in the quarter.
Revenues more than doubled over the year-earlier quarter, surging to $27 million
from $13.1 million.
Commenting on the results, Matthew Szulik, president and CEO of Red Hat, said in
a statement, "Red Hat expanded its sources of revenue by introducing strategic
solutions to our global customers, which contributed to our strong operating
results."
In a conference call yesterday, Red Hat's CFO Kevin Thompson said the company
expects first-quarter revenues to be flat at $27 million, compared with $31.1
million anticipated by analysts polled by First Call/Thomson Financial.
Thompson gave no earnings estimate and said he expects revenues for fiscal 2002
to come in at $140 million, well short of the $152.24 million analysts had
predicted.
Red Hat expects fiscal 2002 earnings of $17.4 million, or 10 cents per share,
compared with 4 cents per share projected by analysts.
Red Hat shares closed at 5.22 in regular trading yesterday. The stock climbed to
6.81 after hours.
CONTACT: For more information, contact 123Jump.com, Inc.
212-968-8700
Send email to: info@123jump.com
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All Rights Reserved. (c) Copyright: 2001 123jump.com, Inc.
New York, Mar 23, 2001 (123Jump via COMTEX) -- Red Hat Inc. (RHAT), the leading
distributor of the Windows alternative Linux operating system, said on Thursday
that it broke even in its fourth quarter, topping Street estimates and narrowing
its loss from the year-ago period.
The company also said it expects to reach profitability in the first quarter of
fiscal 2002.
For the quarter ended Feb. 28, Red Hat posted an adjusted loss of $600,000, or 0
cents per share, compared with a loss of $5.6 million, or 4 cents per share, in
the year-ago quarter.
Analysts polled by First Call/Thomson Financial had expected Red Hat to lose 1
cent per share in the quarter.
Revenues more than doubled over the year-earlier quarter, surging to $27 million
from $13.1 million.
Commenting on the results, Matthew Szulik, president and CEO of Red Hat, said in
a statement, "Red Hat expanded its sources of revenue by introducing strategic
solutions to our global customers, which contributed to our strong operating
results."
In a conference call yesterday, Red Hat's CFO Kevin Thompson said the company
expects first-quarter revenues to be flat at $27 million, compared with $31.1
million anticipated by analysts polled by First Call/Thomson Financial.
Thompson gave no earnings estimate and said he expects revenues for fiscal 2002
to come in at $140 million, well short of the $152.24 million analysts had
predicted.
Red Hat expects fiscal 2002 earnings of $17.4 million, or 10 cents per share,
compared with 4 cents per share projected by analysts.
Red Hat shares closed at 5.22 in regular trading yesterday. The stock climbed to
6.81 after hours.
CONTACT: For more information, contact 123Jump.com, Inc.
212-968-8700
Send email to: info@123jump.com
Or, visit 123Jump at: 123jump.com
All Rights Reserved. (c) Copyright: 2001 123jump.com, Inc.
